Combined profit of QSE-listed firms up 6.74% - The Peninsula Qatar

Combined profit of QSE-listed firms up 6.74% - The Peninsula Qatar:

The combined profit of Qatar’s publicly traded companies rose by 6.74 percent to QR31.13bn for the nine months’ period ended September on year-on-year. The growth in the net profit was mainly driven by Industries and Banking sectors.

Qatar’s big banks delivered a combined net profit of a solid QR17.76bn, up 8 percent from QR16.4bn posted during the same period in 2017. Commercial Bank made a major turnaround recording an increase of 386.37 percent growth in the profit. Banking major QNB was up by 5.57 percent, While QIB and Masraf Al Rayan recorded 12.9 percent and 4.48 percent growth, respectively.

Companies in the industrials sector collectively delivered QR6.98bn profit during the period, up 27.41 percent on year-on-year. The net profit of bellwether Industries Qatar (IQ) surged 62.27 percent. GISS profit jumped by 77.77 percent and MPHC was up by 27.54 percent.